Development in Downtown Tucson Arizona Slowed due to Housing Market

Greg Shelko, Director of Downtown Development, says that the public has been hearing about downtown revitalization for decades. Greg states “They’re tired of hearing about it and they want to see it, so we’re tired of talking about to we’re happy that some of our projects are finally coming out of the ground.”

The new projects Shelko is referring to are projects such as One North Fifth, that broke ground Thursday night, and Mercado District, on the west side of downtown. Once Maercado District is complete it will provide 200 units of housing and commercial space. Other projects that they are working on include The Post on Congress, the condos supposed to go up in the space where Talk of the Town was in 2004. 44 Broadway, was formerly the federal courthouse, is moving forward but has been slowed by sales.

Many of these new projects have been slowed down due to lack of sales, however most people don’t want the long commute so once the area is been revitalized more it’s expected that sails will follow through. Shelko says that “We all just have to make it through this down time and we’ll come out of this housing market slump and everything will take off from there.”

To read more about downtown Arizona development slowed by housing market head on over to KOLD 13 news.